PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia said today that this week will be extremely interesting as important financial data is revealed to the general public.
Pertaining to the week ahead, Celia said, “I don’t think it’s going to be quite as volatile, but certainly a lot of political pressures will come to bear on the markets. We get consumer confidence numbers coming out on Tuesday. Right now that’s holding at 121.7, which was the April number. Now May’s number is coming out. We’re also getting new home sales for April.
“On Thursday, initial jobless claims, of course, are going to be critically important. We will see if we’re going to break under, yet very close, to about 400,000 first-time unemployment claims. Continuing claims are rising, so hopefully we can start to see that turn around. We also get this second revision of GDP for the first quarter. We’re sitting at 6.4%, so we’ll see what the revision brings.
“Not likely to move much, durable goods orders is a very important number coming out on Thursday. This is an April number. I don’t think we’re going to see a real jump in durable goods orders until the month of May. And if it doesn’t come out in May, then I think we could be looking at some problems, possibly, as we head in to the summer. Lots of information coming out this week that I think will be important to give us a real hard look at what is beginning to develop as we head into a busy summer season and start looking at the September Fed meeting and what might come to pass.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.
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